WASHINGTON: The US government put trillions of taxpayer dollars on the line to guarantee risky bank assets - a strategy that could cause permanent and costly market distortions, a government watchdog says.
i believe that America should nationalise their banks. Its spiraling out of control and I am predicting a real major collapse of America's financial system far greater than what we have just seen early this year. This may happen in less than 5 years as banks greedily and fearlessly take risks knowing that the government will be there to cushion them. Remember, I said it first!
Unfortunately, all the money is not leaving the banking system and being lent onwards to the real economy. Until normal lending resumes any economic recovery will remain tepid. http://protecturwealth.blogspot.com/
The US has the highest reserves for Gold in the world.
They already envision that paper money may not be worth anything at the rate that they are selling US Treasuries and printing money with no real economic growth..
China is also very worried about the US treasuries that they are holding...
That's why we are seeing INdia , China and its citizens hoarding gold.
i hope our Government will also do likewise , before it is too late.
The writing is all over the wall... can't you all see !!!
the US domestic economy is not going to move without the federal intervention or assurance. the operations of huge masses of small businesses are stifled due to lack of credit. small banks should be propped up by the authorities to crank the engine of demand and job creation.
November 07, 2009 Saturday, 02:12 AM
